David Saks: January 2011

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 971

                                                             #971

A VA loan is a loan that may never be assumed by anyone other than an eligible veteran.

Is this true or false ?

Please take your time. The solution is posted below the wildlife photo.

wildlife

A. False

It's possible for anyone to assume a VA loan and the person assuming the loan doesn't have to be a veteran.

The buyer has to pass a credit check before they're allowed to assume the loan, however.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • January 17 2011 04:58AM
Real Estate Practice : Lesson 971
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#971 A VA loan is a loan that may never be assumed by anyone other than an eligible veteran. Is this true or false Please take your time. The solution is posted below… more
Real Estate Practice : Lesson 970
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Real Estate Practice : Lesson 969
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#969 If a borrower is facing nonjudicial foreclosure the borrower is entitled to the right of being able to cure the default on the loan by paying off the delinquincy and… more
Real Estate Practice : Lesson 968
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#968 When a mortgagee gives a mortgagor a document that declares that the debt has been paid in full this document is commonly referred to as a deed of complete release and revision … more
Real Estate Practice : Lesson 967
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#967 When a foreclosure sale is held following judicial foreclosure an execution or Sheriff's sale is held. Once the sale has been completed and the foreclosed property sold the… more
Real Estate Practice : Lesson 966
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#966 Anytime a buyer works out an arrangement that will allow the seller to assume the mortgage rather than a traditional lender this type of arrangement is known as a partnership Is this… more
Real Estate Practice : Lesson 965
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#965 When we talk about a budget mortgage we're talking about a mortgage that allows for the greatest discount level possible given the size of the loan and other variables. Is… more
Real Estate Practice : Lesson 964
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#964 A developer has seven parcels of land and found out that he needs some more money to finish the project. In order to secure a loan and the additional resources needed to finish the… more
Real Estate Practice : Lesson 963
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#963 If a provision is included in a mortgage that will permit the lender to declare an entire loan balance due and payable if the property is sold this provision is commonly referred to as… more
Real Estate Practice : Lesson 962
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#962 If there is a provision in a mortgage that allows the lender to declare the entire loan balance due upon default of the loan by the borrower this provision is known as an exculpatory… more